Ireland mulls closing Apple’s favorite tax loophole

Apple’s luck with the Irish may be about to run out. Bloomberg reports that Irish finance minister Michael Noonan has pledged to change parts of his country’s tax laws that have allowed big tech firms such as Apple and Google to stash profits to avoid paying taxes in other countries. Specifically, Noonan said that he will propose “a change to ensure that Irish registered companies cannot be ‘stateless’ in terms of their place of tax residency” while adding that Ireland “wants to be part of the solution to this global tax challenge, not part of the problem.”